St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-04-18
SATURDAYS MARKET.
On the Chicago Board of Trade Dealers
in Wheat We're Rather
Mixed Up.
Fears Of a Corner in the May Option Had
Something to Do With the
Nervousness.
CIearings from the Seaboard Light,
and Primary Receipts
Small.
Transactions in the Financial Cir
cles of Wall Street General
Quotations.
Special to the Globe.

CHIC AGO, H., April Lett was not re-
imarkable that the wheat pit to-day was q
little relieved from the tension of yesterday.
The fact that there was not near as sharp
demand for May at S414c as there WAS yester-
day at soc did not convince the crowd that
the Clique operations were over. There have
been shaking out processes before that have
swung the market good deal lower, yet
when the equilibrium was recovered the
cliques was in possession still, and the shorts
in worse rather than in better position.
There are some traders who poohpoohed the
idea of 4 corner, and plainly indicate. by
their manner more than by their words, that
the operator who talks corner or who oper-
ates on q corner is a sort OF weak ''siSter."
IL speculationS, however, it is no weaker
to believe in corner and
TAI. AFTER IT
than to fight corner. The signs are that
there is vastly more wheat sold for May than
can be delivered. If there isn't a corner"
then. it will be because tie wheat bulls ARE
too easy natured to squeeze their enemies.
Now what is the weaker attitude to take?
The shorts talk about the vast quantities of
wheat in the West and Southwest, and
threaten TO bring it all down here. Is there
no ether use in the world for ali the wheat
except TO deliver it to the speculative buyers
at Chicago? Are there no buyers at all in
Duluth and Milwaukee and st. Louis and De-
troit? And if al the wheat at Duluth and
Milwaukee is brought here. will the buyers
there gracefully accept wind on their con-
tracts? There are really two sides to the
whole discussion. One is as sensible as the
other. 1t is estimated that Irwin Green " Co.
and Field Lindley IL Co. during the last three
DAYS have aggregated 100000 bushels for
May, enough 10 have temporary effect on
the market, but not enough to at all change
the situation if the clique holdings are any
where near as large as they are supposed to
10 Foot NTNff 81 fnxx
days has been the steady buying by Kershaw
& Co., while the other clique brokers were
selling The weeks operations have demon
strated on thing to a Gel tainty. The present
bulls in May are extending their operations to
June, july and even September. At o clock
May wheat closed at S414GS45sc.
THE ROUTINE REPORT.
CHICAGO, April 16.-TraderS in wheat were
III very uncertain frame OF mind again to-
day. The fears of corner" in May wheat
caused that option to advance to SIC yester-
day. but it closed last night at S514c. This
morning the market opened at S5Ac, but the
rumor was started that the "bulP' clique was
unloading and quite sharp decline to SIC
followed, with many of the ''tailers," who
had bought yesterday in the expectation that
the great advance in prices had commenced.
throwing their holdings overheard There
was no outward evidence that the Clique was
selling any great quantities of wheat, and
the price reacted to S4Ia@S45s, which
was the closing figures for the day.
The feeling continues to be one OF great I'M
certainty as to the prospects of a squeeze.
Several large operators made themselves
prominent on the floor Of change to-day,
Offering to wager large sums of money that
no corner would be attempted in May wheat.
Many conservative dealers, however, are in
clined TO keep out of the market. The clear
iugs from the seaboard are light and the re-
ceiptS at primary points continue to be small.
Corn ruled very quiet and closed shade
lower. The receipts continue to be very
light. Oats were featurelesS. Mess pork was
unchanged. Lard was easier under good
offerings and closed 5011ac lower than yester-
day. Short ribs declined 150171ac per 100
lbs, rallied slightly and closed at middle
figures.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2. April, opened at $500. clos
ing at S3c; May. S514c, closing at $3.50
S21ac, closing at S2Ac. Corn-No. 2, April,
SS1c, closing at 377sc: May, 5914c, closing
at 391Sc; June, 403sc, closing at 4014@403sc:
July, 1870, closing at 415s@41s4c. Oats-No. 2,
April, 275sc, closing at 2734c; May, 29c, closing
at 2SI@29c; June, 295sc, closing at 293sc;
pork, per barrel-Apri, $40. 90, closing at 5000;
May, SPOTS, closing at S20.75; June, $40. rs,
closing at $20.T5. Lard, per 100 pounds-April,
1885, closing at $3.50; May, $40, closing
at $7.35; June, $3.50, closing at S7.45; July.
S7.6O, closing at $7.521a. Short ribs. per
100 pounds-April, SS.4O, closing at 1925.
May, $40, closing at Ss.25; June. 1856, clos.
ing at SS.371%; July, $50 closing at $S.45'
Cash quotations were as follows: Flour steady
and unchanged. Wheat-No. spring, S3c;
No. 3 spring, nominal; No. red, S3c.
Eorn-No. 2. 372s@3Sasc. oats-No. 2. 2754
D2SAc. Rye-No. 2, 551ac. Barley-No. 2,
b74c Flax Seed-No. 1, $l.O4. Timothy Seed
Prime, S1.67@1.69. Mess pork, per Dbl,
s2o.5o. Lard, per 100 lbs, s7.ao@T .2sH
Short ribs sides, loose, $50; dry sailed
sides. boxed, SS.6O@S.65. Whisky, distillers'
finished goods, per gal, S1.1S. Sugars, cut
soaf, 614@65sc; graduated, 61sc; standard
"a 55sc. Receipts-Flour, 5000 bbls;
wheat, $1,000 bu; corn, $1,000 blu; oats,
10000 bu; barley, 1000 bu. Shipments
Flour, 1000 bbls; wheat, 1000 bu; corn,
$4,000 bu: oats, $4,000 bu; rye 5000 bu;
barley, 5000 blu. On the produce exchange
to-day the butter market was steady; cream
cry, 1sG24c per ID, dairy, 1S@22c. Eggs,